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| Name | Budget Terms In Hindi | Budget Terminology | Most Used Budget Terms Explained | Terms Used in Budget |
| Video Uploader | Video From Josh Talks Stock Market |
| Upload Date | This Video Uploaded At 26-01-2023 13:45:11 |
| Video Discription | Budget Terms In Hindi | Budget Terminology | Most Used Budget Terms Explained | Terms Used in Budget Welcome to Josh Money! In this video, we have discussed about Budget Terms in hindi. The much awaited Union Budget 2022 will be presented on Feb 1 , 2023. To help you understand the budget better, we have compiled a list of frequently used financial terms that you can expect to hear during the budget to help you understand the announcements better. Union Budget Here is the definition of the Union Budget according to Article 112 of the Indian Constitution: Union Budget is the statement of estimated receipts and expenditure of the government called the Annual Financial Statement for a specific year. A budget is a financial plan for a specific period. As individuals, we create a budget for our family to minimize costs and optimally utilize our income while saving something for the proverbial rainy day. Even a company creates a budget for all its costs like marketing, PR, etc. based on its estimated revenues over the coming year. Similarly, a country needs to create a financial plan managing its income and expenses too. Gross Domestic Product (GDP) The Gross Domestic Product or GDP is the total market value of all the finished goods and services produced within a country in a specific period of time. In most countries, GDP is the standard for measuring the economic condition. GDP can be calculated on an annual or on quarterly basis. In India, the Central Statistical Office (CSO) under the Ministry of Statistics and Programme Implementation calculates the country’s GDP by accumulating data from both central government and state government-run agencies. Direct and Indirect Taxes Tax is the primary source of income for the government. There are two broad-level taxes in India – Direct and Indirect. Direct tax is the tax paid by an individual directly to the government. This includes income tax and corporate tax. On the other hand, Indirect tax is paid by the people to a person/entity who has the burden of paying the tax to the government. Goods and Services Tax (GST) In India, GST or the Goods and Services Tax is levied on most goods/services sold in the country. It is a form of indirect tax, where the consumer pays the tax but the amount is remitted to the government by the business establishment. GST adds to the income of the government. Inflation There are many ways to define inflation. It is a sustained increase in the general price level in an economy. It is also the decline in the purchasing power of a currency over time. In simpler terms, if you have Rs.1000 today, then you can buy certain goods/services. However, after 10 years, the same amount will fetch you fewer goods/services. The rate at which this purchasing power declines is the inflation rate of the country. A 10% inflation rate means Rs.100 today will be worth Rs.90 after one year. Revenue Budget The Revenue Budget consists of revenue receipts and revenue expenditure. Revenue Receipts include tax-related revenues, dividends/interest on the investments made by the government, receipts for services provided by the government, etc. Revenue Expenditure includes the costs associated with the normal running of the government departments, interest paid by the government on debt, subsidies, etc. Any expenditure that does not result in the creation of an asset for the government is a revenue expenditure. Source: Groww #BudgetTerminology #UnionBudget #BudgetTerms #JoshMoney Follow the Instagram Page of Josh Money: https://www.instagram.com/joshmoneylive/ |
| Category | Education |
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